The sixth installment of the annual ICC G20 Business Scorecard rates G20 responsiveness to business priorities as ‘fair’ (2.3 out of 3.0).
Decisions taken at the 2016 G20 Leaders’ Summit in Hangzhou, China, were generally reflective of business priorities, with a strong emphasis on infrastructure interconnectivity, promising guidance on multilateral investment policy coordination, an increased focus on innovation and the digital economy, and strengthened collaboration on energy access and climate change.
The sixth edition Scorecard examines a total of 25 business priorities put forward during the 2016 Chinese Presidency and rates the G20’s responsiveness across seven policy areas:
- Trade and investment
- Financing Growth
- SME Development
- Energy and Environment
Progress on these sets of priorities is scored on a scale of inadequate (0), poor (1), fair (2) or good (3).
The overall score of 2.3 out of 3 across all seven policy categories marks the highest overall score since ICC began its monitoring. However, despite the positive overall trend, progress is shown to be uneven with three GOOD, three FAIR and one POOR score. The mixed scores highlight several notable advancements on business priorities, but also that there is still much room for improvement.
Compilation of the annual Scorecard reflects ICC’s belief that if the G20 has better information on how its actions are interpreted by the business community this will help it set priorities, honour commitments, measure its own progress over time and identify deficiencies that deserve greater attention. In parallel, ICC believes the business community should work more closely with the G20 to promote economic growth and job creation.